Preferred Stock Shares definition
Examples of Preferred Stock Shares in a sentence
Any such conversion shall be deemed to have been effected, without further action by any party, immediately prior to the close of business on the fifth Business Day after the Corporation delivers notice of its election of a Mandatory Conversion to the holders of Series A Preferred Stock Shares.
Notwithstanding the foregoing, in any such case, the aggregate purchase price payable by Holder for the total number of New Preferred Stock Shares (as adjusted) shall remain the same.
The Company has the Right to “Call In” all 9% Convertible Preferred Stock Shares at the value of the Common Stock Shares, less the appropriate percentage discount in the Year that the acquisition or merger occurs.
The Company has the Right to convert the 9% Convertible Preferred Stock Shares to Common Shares of the Company should the Company be acquired or merged with another company (where the Company has less than 50% controlling interest).
Payment of the Exercise Price for the New Preferred Stock Shares with respect to which this Warrant is being exercised by Holder shall be made, at the option of Holder, (a) by delivery of cash payable by wire transfer of immediately available funds, (b) by the delivery of a cashier’s check or certified check, (c) by net issue election as set forth in Section 2.6 below, or (d) by any combination of (a) – (c).
The issuance of certificates for the New Preferred Stock Shares upon exercise of this Warrant shall be made without charge to Holder for any issuance tax in respect thereof provided that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any certificate in a name other than that of Holder.
A maximum of TEN THOUSAND 9% Convertible Preferred Stock Shares are being offered to the public at $100.00 9% Convertible Preferred Stock Unit.
Without limiting the generality of the foregoing, the Company shall take all such action as may be necessary or appropriate in order that all shares of New Preferred Stock Shares as may be issued pursuant to the exercise of this Warrant shall, upon issuance, be duly and validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof.
The Company shall promptly notify Holder in writing of each adjustment or readjustment of the Exercise Price hereunder and the number of New Preferred Stock Shares issuable upon the exercise of this Warrant.
Upon such conversion of the Preferred Stock into Common Stock, all references under this Warrant to New Preferred Stock Shares shall be deemed references to Common Stock.